NIFTY SPOT DAILY CHART
NIFTY FUTURES DAILY CHART
NIFTY HOUR CHART
- In daily chart spot and futures is still below the trend line.
- In hour chart the price closed right on the trend line.
- U.S. Markets are looking very weak along with Euro.
- S&P 500 and Dow Jones Daily charts are looking bearish. The 50 day moving average is about to close below 200 day moving average resulting in the DEATH CROSS.
- But Nifty's TA set up is looking stronger than the other markets. Having said that traders should consider the above factors before taking huge long positions.
US MARKET UPDATES |
Dear San,
ReplyDeletePoint noted.Thanks.
As you said "But Nifty's TA set up is looking stronger than the other markets"I would like to share my thoughts here.For our market Nifty Fut. has never traded below 5225 from last 9 trading days so If there is a reversal in U.S.market in coming sessions then the possibility of strong break out on the upper side cannot be ruled out.I am not mad Bull neither Bear,a ordinary small day trader.For today's trading if Nifty shall manage to stay between 5225 and 5377.55 ( NF Top,this series) and if shall manage to close above it's "day pivot" then I shall consider it as a victory for Bulls.For coming sessions ( not for today's trading),today, if there is a lower top and higher bottom (whatever it will be) then it shall be beneficial for the break out on upper side.For systematic break out on lower side Nifty needs systematic selling below 5260 and 5225 the rest will be followed tired Bulls who are waiting for a breakout.
@Mynac
ReplyDeleteThe U.S. Markets are going down but we cannot rule out a bounce from an oversold situation. I was expecting that yesterday. But did not happen.
Another important thing to note is the EUR/USD Chart which is driving the U.S. Markets.
@Rochak
Thanks for sharing the link.